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Article: Petroleum Geo-Services Prices $250 Million Senior Unsecured Notes.
- Article from:
- Business Wire
- Article date:
- November 13, 1998
CopyrightCOPYRIGHT 1998 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Nov. 13, 1998-- Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) announced that it priced a Rule 144A offering of senior unsecured notes totaling $250 million. The Company's $250 million Senior Unsecured Notes, due 2003, will have a coupon rate of 6.25% and were priced at 99.56% to yield 6.354%. This transaction is expected to close on Nov. 19, 1998. Net proceeds from the offering totaling approximately $247 million will be used to repay indebtedness outstanding under the Company's bank credit facilities.
The Senior Unsecured Notes have not been registered under the Securities Act of 1933 and may not be offered or sold in ...